Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Wade	9/24/2006 6:46:26 PM
	of 48092

gold-eagle.com Why Gold Dropped And What Is To Come Mike Swanson "There were a few gold newsletter writers who have been calling for giant corrections in gold all summer. Among the more intelligent writers, Jack Chan said gold was making a huge head and shoulders top and was heading for a smashup while Chris Laird was saying that gold stocks would get sucked down along with the broad market as everything falls due to a coming recession. The recent action seems to suggest that they are right, but I think gold stocks are near a bottom and will surprise the doubters with a surprising recovery. Just as the false breakout fooled bulls like me I think a rally will end up fooling the cautious gold writers, even some of the smartest ones." "There is no sign that they were trying to smash the gold market last week. In fact the small retail speculators sold long positions and actually built short positions last week! " "The false breakout came because there was a a large group of sellers who sold to get out of losses. Who would have sold? I think those sitting on losses from the top who bought never understanding gold in the first place. That momentum carried over into people like me trying to position themselves for a rally and things just snow balled from there. In the end this move down will flush all of the dumb money out of the market that got in earlier this year near the top and prevent people who would have participated in future rallies from doing so."

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next